Braveheart Investment Group plc Investment update - Paraytec Limited (9734U)
November 29 2023 - 2:00AM
UK Regulatory
TIDMBRH
RNS Number : 9734U
Braveheart Investment Group plc
29 November 2023
29 November 2023
Braveheart Investment Group plc
("Braveheart" or the "Company")
Investment update - Paraytec Limited
Braveheart Investment Group (AIM: BRH), provides the following
update on Paraytec Limited ("Paraytec"), a company within its
investment portfolio. Paraytec develops high performance specialist
detectors for the analytical and life sciences instrumentation
markets.
Paraytec has informed Braveheart that it has secured its first
commercial sales contract for the CX300 Optical Particle detector
instrument (the "CX300 instrument"), to Nottingham Trent University
("NTU"). The instrument will be installed in the "EX-Cell group" at
NTU, led by Prof Elisabetta Verderio Edwards, who's work focuses on
the role of extracellular factors in cell survival in conditions of
neurodegeneration and tissue repair. The CX300 instrument will be
used to further their Alzheimer's, Dementia and Parkinson's
research at NTU.
The Directors of Paraytec believe that this sale of the CX300
instrument could be the first of many to UK and European research
laboratories.
Trevor Brown, CEO of Braveheart, commented:
"This sales contract with NTU is the first commercial sale of
the CX300 instrument by Paraytec, justifying our investment in the
company and its development in the CX300 instrument, as well as
Paraytec's continuing commitment to innovation."
Braveheart holds a 100% equity interest in Paraytec. In
addition, Braveheart has provided unsecured interest free loans to
Paraytec totalling GBP1,155,200 as at 31 March 2023.
For further information:
Braveheart Investment Group plc Tel: 01738 587555
Trevor Brown CEO
Allenby Capital Limited (Nominated Adviser Tel: 020 3328 5656
and Joint Broker)
James Reeve / George Payne
Peterhouse Capital Limited (Joint Broker) Tel: 020 7469 0936
Duncan Vasey / Lucy Williams
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